Foundations of Business and Tourism: Impact of Technology, Social Media, and Globalization

This study explores the impact of technology, social media, and globalization on the foundations of business and tourism. It examines how developments in technology and social media have influenced marketing strategies in the past decade, and discusses the positive and negative effects of globalization on a chosen country or region. The study highlights the importance of understanding these foundations in order to succeed in the modern business and tourism industry.

Foundations of
business and tourism

Table of Contents
INTRODUCTION ..........................................................................................................................3
SECTION A ....................................................................................................................................3
Developments in technology and social media impacted on way companies and organisations
market their products and services in last ten or fifteen years ...................................................3
SECTION B ....................................................................................................................................6
Globalisation as a phenomenon has impacted on country or region of your choice with their
positive and negative effects of phenomena ..............................................................................6
CONCLUSION ...............................................................................................................................8
REFERENCES ...............................................................................................................................9

INTRODUCTION
Foundations of business and tourism is based on the challenges based on the
organisations that is arises from the business environment but they can exercise on it properly on
an independent basis for greater flexibility. This study involves the two questions that is
developments in technologies and social media within the businesses and organisations at the
time of selling goods and services in the past ten to fifteen years. Because this analysis helps in
expanding the companies profits and brand image in the marketplace. At last it explains the
impact of globalisation on the country like UK with their positive and negative factors so that
taking effective decisions helps in generating more revenues and profits with more
confidence(Gretzel and et. al., 2015).
SECTION A
Developments in technology and social media impacted on way companies and organisations
market their products and services in last ten or fifteen years
Technological developments refers to the essential process that involves the innovation,
inventions and diffusion of the technologies and processes that is mainly adopted by the
businesses to enhance and making better the organisations by attracting the large base of
customers. In today's business environment social media is the best way to attracts and retain the
large base of customers by promoting the products and services on Facebook, Instagram and
many more where people are more active. The developments in technologies and social media in
the last ten to fifteen years can place an effective impact on the organisation for expanding and
exploring the revenues and business units in all over the world. In business and tourism sector
technology and social media place a great impact in attracting the customers and to exploring the
new country and region on pre-basis by seeing attractive pictures and videos. Some of the
developments in technologies and social media at the time of marketing the offerings can be
shown below(Fesenmaier and Xiang, Z. eds., 2016).

Development is shown as a crystal ball that helps in holding the future as an successful
way that also assist in gaining the large market. In past years internet is not trending as a
business point of view but it is very fashionable in today's business environment without it no
organisation can survive for a long period of time. Advancement in the technologies can place an
rapid change in producing, delivering and promoting the products and services improvement in
communication technology and internet technology helps in gaining more advantage that can be
explained below(THE EVOLUTION OF DIGITAL MARKETING: 30 YEARS IN THE PAST
& FUTUR. 2020).
 Instant communication- The major development in the technology and social media can
shown in the communication with the customers and the other stakeholders for earning
more profits and selling the products and services. For example- In case of TUI group,
company can communicate with their customers by using traditional ways in past years
like personal selling and maintaining the public relations by communicating them face to
face. Because at that time this way is very successful to attracts the customers towards the
products and services they offered. But it is rapidly developed day by day and now TUI
can adopts the use of social media and other internet sources to communicate with the
customers and people and promote their goods and services that can be shown worldwide
because internet covers whole world. It can be impacted in the positive ways because it
helps in gaining the competitive market and enhancing the market share. In today's
environment social interaction can be minimised and electronic interaction can be
enhanced.
Illustration 1: development in marketing companies goods and

 Personalisation- In traditional way people does not share anything socially but as the
time changes people are very excited to share everything on social media and all this can
only be possible because of development in the technology and social media. For
organisations and companies social media is the best source because people in all over
the world are connected with each other and this will helps in creating a strong bond with
the customers due to this selling products and services can be easy and impressive. For
Example- As TUI is the company that can personalised their products and services on
social media like Facebook, YouTube etc. to attracts the customers and making the good
connection with them. Because of this people can share their current experience with the
large number of people due to this they can attracted towards the TUI services and gain
the advantage of it due to this company can earn more profits.
Illustration 2: advanced communication

 Enhance the image of brand- Development in the technologies and social media helps
in maximising the image of brand because of using the advanced technology by the
companies to promoting the goods and services helps in gaining the more loyal customers
who buys the offerings and also share it with their social media friends. This helps in
expanding the marketshare and customers base within a short period of time. In case of
TUI, in the early age of the business organisation only attracts the local area people by
using brochure, poster and billboards but with the development in technology TUI can
use the social media where their can advertise their products and services in an innovative
way so that large base of customers get attrct6ed in all over the world with in a low cost
that gives large amount of profits(Gretzel, U. and et. al., 2015).
 Encourage innovation- development in social media and technologies helps in
innovation in the promoting and producing the goods and services so that they can beat
the competition within the global market and achieves the long term survival in the same
industry. As example of TUI company, by using the advanced technology they can offers
to their customers a 24*7 travel guide with a choice of language so that customers can get
attracted towards the company. In 20th century there is no need to be more innovation in
the products and services that is offered to the customers but because of major
development in the technologies it is very essential because business ventures are
connected on the global nature and due to this to make a strong and effective position that
helps in longer sustainabi9lity organisation can do innovation in their goods and services

so that large base of customers get attracted towards it. In past years payments can be
done in cash or cheque facility but now due to technology development it can be
beneficial for the customers and companies to make payments by using G-pay, pay pal
etc. that helps in growing the market and also shows the innovation in taking and making
payments(Xiang, Tussyadiah and Buhalis, 2015).
By analysing the above study on the development of technologies in selling the goods and
services by the companies and organisation is showing the positive impact on the businesses
because it helps in attracting the large base of customers with regular and day to day
connectively with customers and people that help in enhancing the brand image of the company.
It also helps in personalisation the business enterprise image so that it helps in gaining the
competitive advantage within the current marketplace.
SECTION B
Globalisation as a phenomenon has impacted on country or region of your choice with their
positive and negative effects of phenomena
Globalisation- It refers to the process of integrating and interaction with the large
number of people, companies, government in all over the world. It helps in developing the
market share of the company and economy of the country. It is related to the speed up of
exchanges in currency, products and services, technologies, capital, culture etc. in all over the
world. Globalisation helps in connecting with the di8fferent region and country around the globe.
This terms helps in trading and effective movement of labour and capital that will create more
competition within the global market because of lots of companies are dealing in the same
products and services. This term helps the economy of the UK due to this they can make their
effective place in all over the world. Globalisation can be impacted the UK on two ways i.e. in
positive ways and in negative ways that can be shown below(Fennell, 2015).

Impact of globalisation in positive way
 Enhancing trade- Globalisation helps in increasing the trade that helps the UK and their
companies in specialising their goods and services to gain the competitive advantage. As
UK has famous for the video gaming, financial services etc. that helps in exporting the
products and it also helps in creating jobs. This will positively impacted the UK people
by enhancing their living standards and also helps in maximising the economy of the
country due to the globalisation(Koo, Shin, and Chung, 2015).
 Increased competition- Due to globalisation, competition between the firms and
companies are increased in the international market and due to this domestic companies
can face major challenge as they can lower their prices of goods and services. This will
helps in attracting the large base of local customers towards the organisation and also
helps the middle class people to purchase the products related to food, clothing,
electronics etc. according to their taste and preferences as they are provided on the low
cost.
 Migration- Because of globalisation, it is very simple to the migrants to enter into the
UK market this helps in providing the UK firms low cost of labour who can gives the
best results and complete their work in an effective and efficient way. This also helps in
enhancing the GDP of the country by increment in the living standards of the
peoples(Olimovich, Khabibovna and Alimovich, 2020).
 Tax Avoidance- It is the best part of globalisation for any country because due to
globalisation trend follows in the countries it gives the opportunity to shift the
manufacturing from high tax charge countries to the low tax charge companies. It is

denoted as a tax loopholes. This will showcasing the major benefits to the UK country
but saving their reserves and increasing the economy of the country.
 Foreign investment- It is one of the positive impact of the globalisation on the country
like UK because of high foreign investment nation reserves are placed to be increased
and due to this their cash reserves are also strong. This helps in enhancing the purchasing
power of people(Gretzel, U., Zhong, L. and Koo, C., 2016).
Impact of globalisation in negative way
Globalisation can also be impacted on negative ways in the country like UK such as
insecurity in jobs, fluctuations in currency, capital flows, terrorism etc. some of negative impacts
on globalisation can be shown below.
 Insecurity in jobs- As due to Brexit occur in the UK country, most of the people are
unemployed and losing their particular job. Due to Brexit trading with some European
countries are somewhat difficult because of charging high tax rate, low labour cost etc.
this will place an insecurity in the jobs due to this exploitation in the labour cost can be
occur and their spending power also degrade(Kaldiyarov, D.A., and et. al., 2017) .
 Fluctuation in prices- The major negative impact of the globalisation on the country
like UK is fluctuation in the prices of the tax rate, inflation rate etc. due to high and
increased competition within the global market organisation can lower down their prices
of their products and services due to this companies may face major loss and it is greatly
impact on their longer sustainability. This will effect the economy of the UK because
companies cannot pay the high taxes due to this economy of the nation will be affected.
CONCLUSION
From the above explained report it is to be concluded that foundations of business and
tourism is basically based on the developments and it is related to following the business
environment demands that is based on the use of social media and advanced technology. It
inculcates the development of the technologies and social media that may impacted the
companies revenues and profits within the marketplace by selling their offerings to the targeted
customers and attracting the new ones within the organisation. In this new technologies helps the
organisations to promote their goods and services in an effective way and their impact in the last
ten to fifteen years. It also suggest the positive and negative impact of the globalisation on the

country like UK due to which business activities may suffer and also get more returns by proper
focusing on the welfare of environment.

REFERENCES
Books & Journal
Fennell, D.A., 2015. Ethics in tourism. In Education for sustainability in tourism (pp. 45-57).
Springer, Berlin, Heidelberg.
Fesenmaier, D.R. and Xiang, Z. eds., 2016. Design science in tourism: Foundations of
destination management. Springer.
Gretzel, U. and et. al., 2015. Smart tourism: foundations and developments. Electronic
Markets. 25(3). pp.179-188.
Gretzel, U. and et. al., 2015. Special issue on smart tourism: convergence of information
technologies, experiences, and theories. Electronic Markets. 25(3). pp.175-177.
Gretzel, U., Zhong, L. and Koo, C., 2016. Application of smart tourism to cities. International
Journal of Tourism Cities.
Kaldiyarov, D.A., and et. al., 2017. An investigation into the scientific methodological
foundations of transportation infrastructure in the tourism industry. Journal of
Environmental Management & Tourism. 8(8 (24). pp.1529-1533.
Koo, C., Shin, S. and Chung, N., 2015. Conceptual Foundations for Understanding Smart
Tourism Destination Competitiveness. 한한한한한한한한한한 한한한한한한한, pp.293-304.
Olimovich, D.I., Khabibovna, K.M. and Alimovich, F.E., 2020. Innovative ways of reducing
tourism seasonality of tourist areas. Достижения науки и образования, (1 (55).
Xiang, Z., Tussyadiah, I. and Buhalis, D., 2015. Smart destinations: Foundations, analytics, and
applications. Journal of Destination Marketing and Management. 4(3). pp.143-144.
Online
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